Abstract
In this chapter, we give an outline of recent theoretical research and point to the strong R&D focus that the field has taken since the 1990s. In addition, we comment on the debate on “growth with or without scale effects”. For the sake of clarity, we relate growth models to five generations: models of exogenous growth, endogenous growth models with perfect competition (endogenous growth I), endogenous growth models with imperfect competition (endogenous growth II), models of semi-endogenous growth, and endogenous growth models without scale effects (endogenous growth III) [cf. table 1.1].
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References
The term semi-endogenous growth has been coined by Jones (1995a). He argues that in semi-endogenous growth models, “although growth (...) is generated endogenously through R&D, the long-run growth rate depends only on parameters that are usually taken to be exogenous, including the rate of population growth” [p. 759].
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© 2002 Springer-Verlag Berlin Heidelberg
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Hornung, D. (2002). Literature on R&D-Based Growth. In: Investment, R&D, and Long-Run Growth. Lecture Notes in Economics and Mathematical Systems, vol 509. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51718-1_2
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DOI: https://doi.org/10.1007/978-3-642-51718-1_2
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-42528-1
Online ISBN: 978-3-642-51718-1
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